As healthy moderation in the economy sets in, the Indian real estate as well as Elevator and Escalator industry is expected to revive and bounce back. Sales numbers have significantly jumped in most of the major cities in India in the last quarter, painting a positive picture for 2021. Most of the rating agencies and banks such as Moody's and S&P have also estimated that the Indian economy is set to grow in the range of 8-10 percent in FY 2021. This will further push demand for elevator and escalators too.
As the markets recover, the elevator and escalators market size in India is expected to grow by $659.2 million during the period 2020-2024. The elevator and escalators market in India is expected to post a year-over-year growth rate of 7.68 percent during this period. Going forward, Elevator industry is expected to develop indigenously and bring up new technologies like DSC and other innovations to India to manufacture, with less reliance on manpower and increased scaffold-less construction, augmented IOT based data collection and learning to determine parameters based on actual usage of elevators to help analyse values on which lift traffic analysis was modelled.
The 'New Normal'
The COVID-19 outbreak has had severe impact on the society, businesses, and the economy, leading us to think again about more effective health and safety measures. Passengers are getting increasingly conscious about elevators hygiene and safety protocols, companies in the vertical transportation sector have been working hard to provide solutions for safer rides, and most of the solutions were based on digital enhancements and technologies.
As viruses and other bacteria can be transferred through hand contact with different surfaces, elevator passengers increasingly demand better protection during their daily rides, solutions such as regular cleaning of elevator surfaces, touchless technology, and antimicrobials sanitation are getting ever popular amongst elevator service providers and manufacturers.
Key Challenges Faced By Elevator Manufacturers
Protecting the health and safety of the customers, employees and communities during the pandemic has been the most important and challenging task for everyone.
Not to mention, we have remained committed to serving our customers and continuing to support businesses while observing all recommended safety precautions. Our service and installation COVID warriors have gone against all odds to provide round the clock support to our customers.
Primary Reasons For Increased Rate Of Vertical Transport Accidents In India And Measures
Only ten states in the country issue license for the installation of an elevator. Further, lack of periodic checks from the government authorities and poor maintenance of elevators is one of the major reasons for these accidents.
To put a stop to such fatal incidents Elevator makers in India are lobbying for a uniform Lift Act across the country.
Smart Elevator Technology
There is growing demand for highspeed, high-capacity, smart elevators that can carry many passengers at once, safely and comfortably, particularly in high-rise office buildings, commercial complexes, and other large-scale facilities.
One popular smart elevator feature is destination selection control (DSC), for which passengers enter their destination floor on input terminals in the lift lobby. Each passenger is then assigned to a specific lift which would take him or her to the respective destination floor in the shortest time with a minimal number of intermediate stops. Compared to conventional elevator control systems, DSC increases passenger handling capacity by up to 30 percent, minimizes passengers' travel times to their destination and reduces crowding in lift lobbies. DSC also allows for much more flexibility in elevator grouping, lift core layouts and overall building design.
For example, TWIN, our fast and energy-efficient innovative elevator system, comes equipped with intelligent traffic control, which optimises traffic automatically and reduces empty runs. This state-of-the- art system has two cabs running independently in the same shaft, each with its own counterweight, safety and drive equipment. With reduced shaft core space and construction costs, the TWIN elevator system offers the most flexible elevator solution with an eco-conscious heart.
TK Elevator, MULTI, was introduced with innovation as a key objective in mind to cater for the needs of modern architectural designs. MULTI is a breakthrough technology which harnesses the power of linear motor technology to move multiple cars in a single shaft both vertically and horizontally, without the limitation of traditional rope-driven systems.
Smart elevators can also detect employees of companies based on their IDs and assign them to elevators to reduce wait and travel time. Elevators can utilize touchless summoning and multi-carriage systems for time management. Smart elevators can use the cloud to improve travel speed and comfort and also to analyse performance and alert staff when maintenance is needed. Elevators can be monitored remotely to reduce downtime.
Adaptability is crucial. Smart elevators need to interact with the people, systems and external elements around them. They learn from past experiences and realtime inputs. They adapt to the needs of the people and the businesses within them by increasing comfort, efficiency, resiliency and safety. And today there is a new need: to protect people from COVID-19.
The process of managing cybersecurity requirements of an elevator is effectively a process of managing risk
Likewise, TK Elevator’s, MAX solution leverages cloud stored data to schedule maintenance based on machine calculated life-span predictions of components, this approach results not only in fewer service disruption but also significant savings in labour costs. With the help of IoT platforms like MAX, elevators can virtually talk to us, tell us when they need help, and even advise technicians on the cause and solution when used in combination with AI and machine learning.
Cybersecurity In New Elevator Technology
Cybersecurity protection for elevators has become a necessity. At one time isolated, building conveyances have become an integrated part of complex modern building systems with multiple controllers and processors, remote interaction systems accessing the internet, wireless communication to general purpose computers and mobile device-based service tools.
Elevators have also become enriched with new user enhancements and features, a key component in emergency situations with voice, real-time in-car video displays and complex interaction with fire and life safety systems for building evacuation situations. The ability to deliver real-time data to service personnel as well as software updates on demand electronically is the norm. While connectivity takes elevators to new levels in availability, efficiency and general building safety, it also presents exposures to the world of cyber threats such as denial of service attacks. The process of managing cybersecurity requirements of an elevator is effectively a process of managing risk. To achieve a product with an acceptable level of security, it is necessary to create a set of meaningful measures and controls, which mitigate the various risk events threatening the elevator. Like in the hazard and risk analysis of functional safety, it is essential to form a diverse team for the risk analysis. By combining the different perspectives on the subject to be assessed, the lists of both the identified threats and risks will eventually become increasingly complete.
In general, some of the countermeasures that can be relevant to these guidelines consist of: -
- Embedded device security such as secure boot, etc.
- Identity and Access solutions to manage authentication and authorization measures
- Endpoint security solutions to harden and protect both ends of the communication (controllers, gateways, maintenance equipment and tools, and any backend models)
- Network security solutions to secure communications
- Information security solutions to protect data and data leakage
Elevator Technology Market In India
As healthy moderation in the economy sets in, the Indian real estate as well as Elevator industry is expected to revive and bounce back. Most of the rating agencies and banks such as Moody's and S&P have also estimated that the Indian economy is set to grow in the range of 8-10 precent in FY 2021. This will further push demand for elevator and escalators too.
Going forward, Elevator industry is expected to develop indigenously and bring up new technologies like DSC and other innovations to India to manufacture, with less reliance on manpower and increased scaffold-less construction, augmented IOT based data collection and learning to determine parameters based on actual usage of elevators to help analyse values on which lift traffic analysis was modelled.
TK Elevator aims to be on the forefront of engineering innovative mobility solutions in smart cities and has consistently distinguished itself in providing such solutions that are tailored for rapidly developing urban areas. we offer to our customers and users not only world-class elevator and escalator products, but a comprehensive user experience which encompasses our products and our services. Purchasing our products is the start of a journey, which introduces our customers and users to the unparalleled user experience with our precision German-engineered elevators and escalators.